As of 30 September 2012, FJOF made 23 investments, and Fortress estimated that FJOF’s portfolio would achieve a gross IRR of over 34 per cent. As of 30 September 2012, FJOF II had already made 10 investments with approximately JPY30bn of net invested capital. The fund is expected to be fully invested over the next 24 months.

“We are very pleased with the success to date of our first Japan Opportunity fund, and we believe the environment remains historically attractive for disciplined, opportunistic investments in Japanese real estate-related debt and other assets,” says Thomas Pulley, chief investment officer of Fortress Japan. “We anticipate that deleveraging and the disposition of non-core assets will remain at heightened levels in the coming years, and that significant opportunities will result for select managers. We believe the Fortress team is well-positioned to capitalise on these opportunities on behalf of our investors.”

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